\"The late Jim Simons was arguably the best trader of all-time, achieving 66% average gross annual returns over the span of three decades\"

As you all know, Renaissance added 1,004,958 shares of videogame retailer GameStop during Q1.

They HELD through the recent price volatility, acquiring 342,178 more, for a total of 1,347,136 shares as of 9-Aug-2024.

🤔 ... Why wouldn't a QUANT firm automatically execute a sell into that price action? 🤔

This piqued my interest like it did many of you. I wanted to dive into RenTech's history with GME. Hate (S)HF's all you want, but Jim Simon's legacy is undisputed. Anything correct that any Superstonk ape has ever figured out was definitely figured out by somebody at RenTech. So, let's quickly see how their historical GME positions have correlated with the price of GME. I was looking at 13-F's, because Ren-Tech have never filed a 13-G of GME.

RenTech held shares only within short windows, like most quant firms do. Purchase dates were lacking (I don't know if this can be found, or maybe I'm regarded), but we know at least when and how many shares they had on filing dates. Fintel

Shares held at Filing Date (Blue), Price at close on filing date (Black), GME price chart (Red)

Note: This is not financial advice, and institutional 13-F's are particularly risky when using as information or indicators. Investopedia tells us the following reasons:

Using SEC Form 13F as an investment indicator has several downsides:

1. Unreliable Data: The data reported on 13F forms may not always be accurate or reliable, as the SEC has acknowledged problems with the form that have not been fully addressed. The lack of systematic review by the SEC exacerbates this issue.
2. Delayed Reporting: 13F reports are filed up to 45 days after the end of each quarter, meaning the information is often outdated by the time it's available. This delay can make the data less useful for timely investment decisions.
3. Herd Behavior: Investors may follow the strategies disclosed in 13Fs, leading to crowded trades and potential overvaluation of stocks. This herd mentality can result in significant risks, especially if small investors are late to act.
4. Incomplete Picture: 13F forms only require disclosure of long positions, not short positions or other strategies like derivatives. This can present an incomplete or misleading view of a fund's overall strategy, making it difficult to understand the full context of their investments.